作者 | Big Technology Podcast 编译 | 王启隆 出品丨AI 科技大本营（ID：rgznai100） 如果说 Sam Altman 是 AI 时代的布道者，善于用宏大的愿景点燃公众的想象力；那么 Demis Hassabis 更像是一位在实验室里盯着显微镜的科学 家，冷静、严谨，对"炒作"有着天然的免疫力。 一年前，当整个硅谷都在因为 ChatGPT 的红利期似乎见顶而焦虑，甚至开始讨论"大语言模型（LLM）是否撞墙"时，Demis 却感到困惑。在他看来， 进步从未停止。他掌舵的 Google DeepMind 刚刚经历了 AlphaFold 3 的高光时刻，正试图将 AI 的触角从简单的聊天机器人延伸到生物学、物理学乃 至材料科学的最深处。 在达沃斯的一间木质会议室里，Demis 近期接受了 Big Technology 播客的专访。这场对话的特别之处在于，他没有回避那些尖锐的问题： 现在的 AI 是不是只有"金鱼记忆"？谷歌会不会为了财报在 Gemini 里塞满广告？所谓的 AGI 究竟是营销话术还是科学定义？ 最令人印象深刻的是他对"智能载体"的断言。在纪录片《The Think ...

黄金已经涨疯了！ 今早，COMEX黄金一度突破5600美元，伦敦金现逼近5600美元，前者在短短4个交易日内，连破7道整百关口，涨势之迅猛引发全球关注。 但斌此时转发了一篇分析"历史上黄金白银暴涨后惨烈结局"的短文，被网友反击："吃不上葡萄说葡萄酸。" 对此，他再次回应："我不酸！我对黄金没有太多研究。" 其中的观点是：黄金是保值资产，价格反映的是阶段性的供求变化，长期跑不赢生息资产。 对于近两年地缘冲突对黄金投资价值的影响，但斌认为这不好评估。 "黄金，我们其实没有太关注，就像巴菲特说的，黄金就是保值，其实过去200年黄金就是保值，因为它不是生息资产，长期跑不赢生息资产， 所以我们倒没有太买这些东西。这两年它又加了一个地缘政治问题，你想我们央行买了这么多、全世界都在买黄金，可能会导致阶段性的变 化，也行未来两年，惊涛骇浪来了呢？那它可能又涨，这个东西不好说。" 对于但斌更好看的生息资产，恰好其执掌的东方港湾海外基金最新美股持仓曝光，四季度大动作不断，最大的亮点是谷歌超越英伟达，成为第一大重仓 股。 截至2025年末，东方港湾海外基金共持有10只美股标的，持股市值合计13.16亿美元，折合人民币超91亿元。 ...

Core Viewpoint - Google has disrupted a significant residential proxy operation, IPIDEA, which was used to facilitate cybercrime by compromising millions of consumer devices globally [1][2]. Group 1: Action Against Cybercrime - Google has targeted IPIDEA, one of the largest residential proxy networks, to protect consumers from cybercriminals and state-sponsored hackers [2]. - The operation involved legal actions to seize internet domains managing compromised devices and the implementation of automatic protections for Android users via Google Play Protect [3]. Group 2: Impact on Proxy Network - The disruption has led to a significant degradation of IPIDEA's operations, reducing the pool of available devices for proxy operators by millions [3]. - IPIDEA operated at least 13 residential proxy brands, all of which were taken offline during the operation [4]. Group 3: Scale of Cybersecurity Threat - Google identified over 600 Android applications and 3,075 unique Windows files associated with the network's command-and-control infrastructure [4]. - Following the announcement, Alphabet Class A shares rose by 1.54% and Class C shares increased by 1.62% in after-hours trading [4].

Group 1: AI Chatbot Market Dynamics - OpenAI's ChatGPT currently holds 68% of the AI chatbot market, a decrease from 87.2% a year ago, while Google's Gemini has rapidly increased its market share to 18.2% from 5.4% in January 2025 [2] - The competition in the generative AI chatbot space is intensifying, particularly with the success of Gemini [1] Group 2: Investment and Valuation Trends - SoftBank is in discussions to invest up to $30 billion in OpenAI's latest funding round, which could elevate OpenAI's valuation to approximately $830 billion [2] - Anthropic has raised its revenue forecast for 2026 by 20% to $55 billion, indicating strong growth potential in the AI sector [3] Group 3: Emergence of Agentic AI - 'Agentic AI' represents a new wave of AI technology capable of achieving complex goals with minimal human oversight, exemplified by the Clawdbot (now Moltbot) [5] - The rise of agentic AI is causing traditional software stocks to face selling pressure as investors anticipate disruption [5] Group 4: Corporate Investments and Stake Valuations - Zoom has seen its shares surge following its $53 million investment in Anthropic, with its stake now valued at least $2 billion [4] - Other major tech companies, including Amazon, also hold stakes in Anthropic, reflecting the growing interest in AI technologies [4]

Core Viewpoint - The current interest in artificial intelligence (AI) is characterized as a bubble, with expectations of significant future losses for most investors [2]. Group 1: Historical Context of Technology Bubbles - Numerous technology bubbles have occurred throughout history, with revolutionary innovations often leading to greater speculative bubbles [3]. - Historical examples include the British railway mania, the internet boom, and the SPAC bubble, which share common characteristics that can be applied to the current AI situation [3][4]. Group 2: Characteristics of the Current AI Bubble - The emergence of AI has generated extravagant claims, with proponents suggesting it will solve major global issues and transform economies [9]. - There is a climate of easy money, with low interest rates encouraging speculative investments in AI, similar to past bubbles [11][12]. - Investor optimism is high, with significant disparities between investor sentiment and general public sentiment, driven by economic inequality [19][22]. - A surge in publications and media coverage promoting AI has created a narrative that fuels speculation, reminiscent of past technological manias [25][23]. Group 3: Investment Trends and Valuations - AI startups raised over $200 billion in 2025, with significant capital flowing into private markets rather than public equity [32][33]. - Valuations in the AI sector are extremely high, with companies like OpenAI and Anthropic seeing massive increases in their valuations [41]. - The current market cap to GDP ratio and cyclically-adjusted price-to-earnings (CAPE) ratios indicate that U.S. equities are overpriced, with the CAPE reaching 40 [34][40]. Group 4: Risks and Challenges - The AI technology remains immature, with many experts doubting its ability to achieve artificial general intelligence (AGI) in the near future [42][46]. - There is a significant overcommitment of capital in the AI sector, leading to concerns about future returns and profitability [49][53]. - Unscrupulous behavior and dubious accounting practices are present in the AI ecosystem, reminiscent of past bubbles [54][59]. Group 5: Potential Outcomes - The investment boom in AI may be nearing its end, with signs of financial strain among major players and rising costs impacting profitability [65][66]. - Historical patterns suggest that once the bubble bursts, significant corporate bankruptcies and a shakeout phase will follow, leading to a consolidation in the industry [61][62].

Core Insights - Google DeepMind's new AI model, AlphaGenome, expands the predictive capabilities of AI into the complex realm of the human genome, marking a significant advancement in genomic research [1] Group 1: AlphaGenome's Capabilities - AlphaGenome can simultaneously predict 11 different gene regulatory processes, accurately capturing complex interactions within genes [3][9] - The model analyzes intricate gene splicing mechanisms, identifying how a single gene can produce multiple proteins and when errors in this process lead to diseases [4] - It has successfully reconstructed pathogenic mutations related to leukemia, predicting changes in regions up to 8000 base pairs away from the gene [6][19] Group 2: Performance Metrics - AlphaGenome has achieved state-of-the-art (SOTA) performance in various tests, surpassing existing models in the field of genomic prediction [8][12] - In 24 evaluations related to genomic trajectory prediction, it secured 22 SOTA results, demonstrating its precision in capturing the effects of small genetic variations [12] - The model's predictions have been validated through rigorous benchmark tests, showcasing its ability to outperform competitors like Borzoi and Enformer in multiple rounds [12] Group 3: Technological Framework - AlphaGenome employs a hybrid architecture combining CNN and Transformer technologies, allowing it to extract local DNA sequence features while capturing long-range dependencies [23][30] - The model's input window has been expanded to 1 million base pairs, enabling comprehensive coverage of interactions between remote enhancers and promoters [28] - A two-phase training strategy was implemented, including pre-training with strict cross-validation and a distillation strategy to enhance generalization and inference efficiency [30] Group 4: Applications and Implications - AlphaGenome's ability to predict molecular phenotypes from DNA sequences enhances the understanding of non-coding regions, addressing challenges in genome-wide association studies (GWAS) [17] - The model has successfully identified regulatory directions for 49% of GWAS-related variants, significantly exceeding traditional methods [17] - Its findings provide actionable insights into the biological functions of non-coding region variations, potentially leading to breakthroughs in disease understanding and treatment [23]

Core Insights - The Norwegian Sovereign Wealth Fund achieved a 15.1% annual return in 2025, driven by strong performances in technology and financial sectors, continuing its reliance on large tech stocks [1] - The fund, managed by the Norwegian Central Bank Investment Management (NBIM), reported a stock investment return of 19.3%, with other asset classes also showing growth [1] - Despite solid overall performance, the fund lagged its benchmark index by 28 basis points [1] Group 1: Performance Highlights - Large tech stocks have consistently dominated the fund's performance in recent quarters, with NBIM holding approximately 1.5% of listed shares in around 7,200 companies globally [2] - The fund's largest holdings include major U.S. tech giants such as Nvidia, Apple, Microsoft, Alphabet, and Amazon [2] - Other asset classes also recorded positive returns, with fixed income investments yielding 5.4% and private real estate investments returning 4.4% [2] - The most notable performance came from private renewable energy infrastructure investments, which achieved a return rate of 18.1% [2] Group 2: Geographical Concentration Concerns - Over half of the fund's assets are concentrated in the U.S., primarily in stocks and bonds, raising concerns among experts due to recent geopolitical tensions [3] - An expert panel appointed by the government has recommended that the fund prepare for increasing geopolitical instability, particularly in light of recent comments from former President Trump regarding Greenland [3] - The expert panel advised against limiting the fund's investment scope, suggesting that NBIM should maintain its global and diversified investment strategy while addressing geopolitical risks [3]

仅 Meta(META.US)一家公司就披露了今年高达 1350 亿美元的支出雄心——这是商业领域规模最大的计 划支出之一。其供应商也做出了相应回应：周四，SK 海力士表示计划"大幅增加"资本支出，三星也表 示将加大存储芯片生产能力的投入。 与此同时，只要公司能够展示出增长，投资者就会继续回报这种雄心。微软(MSFT.US)在披露云计算服 务增长放缓后，股价下跌了 6.1%，而 Meta 则上涨了 6.6%。 本周，一系列行业巨头公布的财报强调了市场对 AI 硬件的需求是多么旺盛，并且这种势头很可能会延 续到 2026 年。 Meta、微软以及亚马逊(AMZN.US)和 Alphabet(GOOGL.US)等同行超大规模云服务商，正在推动全球范 围内对芯片、服务器和计算机的采购浪潮，这点燃了全球硬件供应商的热情，尤其是在亚洲。 智通财经APP注意到，全球最大的科技公司表现出对 AI 支出毫不减弱的迹象，这一创纪录的浪潮正推 动着三星电子和 SK 海力士等硬件供应商的发展。尽管人们对于人工智能需求是否具有持久性，以及能 否支撑起如此巨额的资本支出仍持怀疑态度。 存储芯片制造商正将生产线转向利润丰厚的高带宽内存( ...

以下文章来源于蓝点网 ，作者山外的鸭子哥 蓝点网 . 科技资讯、软件工具、技术教程，尽在蓝点网。蓝点网，给你感兴趣的内容 #系统资讯 安卓电脑首个视频流出？谷歌工程师提交的错误报告意外附带安卓桌面版即 Aluminum OS 铝系统的录制 视频，使用的设备搭载的是英特尔第 12 代处理器。视频显示这个系统基于 Android 16，顶部为工具栏、底部为任务 栏和应用图标，支持分屏多任务处理等。 此前谷歌已经透露将把安卓系统与 ChromeOS 系统合并，谷歌的最终目的是将安卓打造为同时兼容 移动设备和桌面设备的新系统，也就是大家戏称的安卓电脑。 这里还涉及到新系统的名称： Aluminum OS 铝系统 ，需要特别强调的这只是谷歌内部给安卓桌 面版起的 代号 ，并非最终名称 (虽然从 ChromeOS 来看说不好最终就叫这个名字)。 日前有谷歌工程师在 Chromium 问题跟踪器上提交的错误报告意外提前泄露安卓桌面版的界面(目前 这个报告已经被设置权限无法公开查看)，这应该是谷歌宣布合并系统以来首次出现的官方版截图和 视频。 谷歌工程师使用的设备是惠普推出的 Chromebook，这款设备搭载的是英特尔在 ...

此次推出是母公司 Alphabet 将人工智能技术进步融入其整个产品线的最新举措。本月早些时候，该公 司表示 Gemini 可以利用用户在 Gmail、搜索、照片和 YouTube 上的数据来个性化其回复。在 Chrome 浏览器上启用名为"个人智能"的功能后，Gemini 助手可以协助处理旅行相关的后勤事务，比如查看学 校课程表和已有的预约安排，从而为家庭找到最佳选择，德席尔瓦在与媒体的电话会议中表示。 这项技术的研发可追溯至代号 Project Jarvis 的项目，旨在开发能够自动化浏览器操作的 AI。自动浏览 的核心优势在于其高度整合能力，特别是与现有工具的协同，使得 AI 在用户授权下，能处理各种需要 跨网页交互的"数字琐事"，例如收集和整理信息、完成在线流程等，显著提高了生产力。 智通财经APP获悉，谷歌(GOOGL.US)正为其Chrome浏览器推出由Gemini驱动的AI助手功能——"自动 浏览(Auto Browse)"，标志着浏览器从单纯的信息载体向智能助手的演进。该功能可代替用户执行打开 网站、页面点击等操作，让用户无需离开浏览器即可完成购物、比价等任务。据产品总监查梅因·德席 尔瓦(C ...